Obama, Boehner battle over 'fiscal cliff'

Dec. 12, 2012
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President Obama and John Boeher / Carolyn Kaster, AP

by David Jackson, USA TODAY

by David Jackson, USA TODAY

President Obama continues efforts to build public support for his tax plan on Wednesday, while he and House Speaker John Boehner conduct a private tug-of-war over the "fiscal cliff."

In the afternoon, Obama holds a conference call with a group of mayors and community leaders to push a debt reduction plan that includes higher taxes on the wealthy as well as budget cuts.

The topic is "the actions we need to take to keep our economy growing, prevent an income tax increase on middle class families and find a balanced approach to reduce our deficit," said the White House.

Over the past three days, the Democratic president and Republican speaker have traded offers, met at the White House, and spoken over the phone. But they and aides have said little about the specifics that may lead to a deal (or kill it).

"What we're not going to do is give a daily or hourly assessment of whether or not progress is being made, or what specific items are being discussed," said White House spokesman Jay Carney. "We don't think that's fruitful or helpful towards achieving the goal that we think we all share, which is reaching a compromise that Congress can pass and the President can sign into law."

Both sides want to avoid what has been dubbed "the fiscal cliff," a series of tax hikes and budget cuts that kick in next year if the White House and Congress can't strike a deal. The goal of an agreement is to begin cutting a federal debt that now tops $16 trillion.

Boehner and aides have said they want more specifics from Obama on spending cuts, particularly on the entitlement programs of Social Security and Medicare.

"The longer the White House slow-walks this process, the closer our economy gets to the fiscal cliff," said Boehner spokesman Michael Steel.

The Republicans oppose any increase in tax rates, proposing to raise more revenue by eliminating loopholes and certain deductions.

White House officials want Republicans to be more specific about their tax plans, saying that tinkering with the tax code won't raise sufficient revenue.

"There is a deal out there that's possible," Carney said. "And we do believe that the parameters of a compromise are pretty clear."